https://www.taxtmi.com/caselaws?id=795050 Where a taxpayer specifically objects to stamp duty valuation for purposes of Section 56(2)(x), the fair market value must be determined through a reference to the Valuation Officer before that valuation is adopted. Property-specific factors affecting market value and an unaddressed request for such reference make direct adoption of stamp duty values inappropriate. Valuation reports concerning the disputed fair market values may be admitted as additional evidence where they are material to determining the addition. The valuation matter was restored for fresh determination after providing the taxpayer a reasonable opportunity. en-us Mon, 23 Mar 2026 00:00:00 +0530 Thu, 16 Jul 2026 09:07:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=795050 Where a taxpayer specifically objects to stamp duty valuation for purposes of Section 56(2)(x), the fair market value must be determined through a reference to the Valuation Officer before that valuation is adopted. Property-specific factors affecting market value and an unaddressed request for such reference make direct adoption of stamp duty values inappropriate. Valuation reports concerning the disputed fair market values may be admitted as additional evidence where they are material to determining the addition. The valuation matter was restored for fresh determination after providing the taxpayer a reasonable opportunity. Case-Laws Income Tax Mon, 23 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=795050